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and another . . .
Sonnen Launches Industry Wide Initiative For Coblat Free Batteries
Https://reneweconomy.com.au/sonnen-launches-industry-wide-initiative-for-cobalt-free-batteries-in-home-storage-systems-42821/
"Adelaide, AUSTRALIA – 11 April 2019 – sonnen has launched an industry wide manufacturer initiative to push the use of cobalt-free lithium ion batteries for home storage systems to increase awareness for more sustainable materials and longer-lasting batteries. To start with, sonnen will be introducing a trust mark, which will make it clear to customers and installers that its batteries are cobalt-free.
“Our customers are not only taking a sustainable approach when it comes to their energy, but also in the manufacturing inputs of products. As a global leader, we want to send out a clear signal for less cobalt and that greater sustainability is needed. We would like to encourage other manufacturers to adapt their technology for the benefit of the environment and communities,” said Christoph Ostermann, CEO of sonnen."
"Since the company’s founding in 2010, sonnen has exclusively used lithium iron phosphate batteries in its storage systems. Along with the fact that they do not contain any cobalt, independent studies 1,2 have shown that these types of batteries offer greater cycle stability and improved safety."
DYOR
Panasonic plans to develop cobalt-free car batteries
https://uk.reuters.com/article/us-panasonic-battery/panasonic-plans-to-develop-cobalt-free-car-batteries-idUKKCN1IV14Y
"Tesla Inc’s battery cell supplier Panasonic Corp said on Wednesday it is aiming to develop automotive batteries without using cobalt in the near future amid soaring prices of the key battery ingredient. "
"“We have already cut down cobalt usage substantially,” Kenji Tamura, who is in charge of Panasonic’s automotive battery business, said at a meeting with analysts.
“We are aiming to achieve zero usage in the near future, and development is underway.” "
DYOR
Samsung SDI to make cobalt-free EV batteries
Https://www.koreatimes.co.kr/www/tech/2018/02/133_244074.html
"Samsung SDI is exploring ways to manufacture low-cobalt batteries or even cobalt-less batteries for electric vehicles (EVs) amid surging prices for the silver-blue metal."
"According to Samsung, it has raised the proportion of nickel in both batteries to above 90 percent, with that of cobalt at 5 percent.
The firm is now moving to take out cobalt from both technologies."
DYOR
Rampster: "Perhaps you need to ring UBS and explain why you know better?"
Not required. The operators of the world's biggest Cobalt mine havealready declared their position which is that the mine will not be economically viable for the foreseeable. Good enough for me. Your article there tells the bad news. It will take till 2023 to get rid of the Cobalt surplus and it will only become a deficit in 2024/2025.
Seriously who would want to hang around here, a dilution company, for that kind of time hoping for a succesful cobalt project ?!
The news article "EXPECTS" the cobalt price to increase around 60 percent
Glencore are ACTUALLY shutting down the world's largest mine believing the DRC cobalt market to not be economically viable for them at this time
Gosh . . . who to believe ?!!! . . . . . .
Rampster: "Previously your argument was that there was no copper or cobalt at Musonoi"
Really, when and where did I state that? Care to elucidate or perhaps retract and admit you are making stuff up again to make an argument?
Best
Hey, Tragic,
Perhaps you need to ring UBS and explain why you know better?
https://in.reuters.com/article/cobalt-price-to-jump-60-in-next-18-month-idINL4N2590WI
Previously your argument was that there was no copper or cobalt at Musonoi: is this you agreeing that there is 24.5k tonnes of cobalt at Musonoi?
For anyone who missed this unfortunate announcement last week:
https://www.ft.com/content/8cd1fd7a-b86c-11e9-96bd-8e884d3ea203
"Glencore to halt production at world’s largest cobalt mine "
There's a massive oversupply of Cobalt which has crashed prices. Glencore can't
operate the Mutanda mine economically in the current climate. News articles say it will take 2 or more years to clear the surplus and for cobalt demand to resume from the electric car battery world.
https://in.mobile.reuters.com/article/amp/idINL4N2590WI?__twitter_impression=true
Are you AB in cognito?
Oh Dear !
Poor old Helpful starting to get a little fractious there. Understandable as he owns a bunch of the outstanding £900k's worth of Convertible Loan Notes which have already been rolled over a year and which are convertible at 0.8p. Stuck with them it seems, never going to be able to convert them imo. Unlucky.
Ranting about what might be in the ground will not tickle the markets one bit old son.
This company has had its greedy fat fingers in so many pies now the outcomes are always the same. What has RRR ever produced itself from the ground?
Nobody was remotely interested in the Migori project before RRR got its license revoked imo. There was naff all happening. The same will be true if they get the license back. If they have to JV I can't imagine RRR will get good terms. It's in a weak position imo. Probably just another lame future royalty.
Greenland project failed and was sold for just £1
Ivory Coast project failed and went nowhere imo
El Limon project failed, mine practically given away, royalty pathetic
Shoats Creek project failed and is being written off
Steelmin failed and is in Administration
etc etc etc
But hey, off you go and big up the next great "new kid on the block" project. Never mind the astonishing long trail of failed ventures, the next one is sure to be the good one eh????
Fooling nobody I'm afraid. I appreciate you're in a pickle, but this is a dead horse imo.
Cash is imo a big issue and the confetti will be flowing soon enough imo.
The BOD absolutely has to be removed here for anything to happen imo
DYOR
So what would you say if RRR gets its license back and does a decent JV?
FYI been in and out of GGP a few times and made decent money. Vector, the assets look okay but they seem to have messed it up.
Anyway the issues at hand are not whether Australian gold companies better investments, the three issues are; will RRR get the Migori license back, will it execute a decent JV, how will the market perceive it. At the moment, Migori is valued at zero anything significantly better than zero is an upside.
Thanks for the advice.
DYOR
Migori is not mineable irrespective of JORC - low grades - no infrastructure and high sovereign risk. A hopeless jurisdiction to do business. You would be far better directing your energy to Aussie gold - many -many company share prices have gone ballistic -check out SPX for instance . Get on board genuine exploration companies in Australia - not AIM lifestyle companies.
And what effect do you think cutting 27,000 tonnes pa out of the cobalt supply will do to the price?
Cobalt is interesting to RRR but marginal: on their own figures they have 24k tonnes of cobalt at Musonoi and 350k tonnes of copper. The latter is much more important to RRR than cobalt.
However, I am glad to see that the trolls think that the cobalt price matters because RRR has cobalt at Musonoi. You have can't have it both ways: if there is no cobalt at Musonoi then the cobalt price is irrelevant on the other hand if there is cobalt then it is relevant. Which is it trolls?
http://www.infomine.com/investment/metal-prices/cobalt/5-year/
Anyway, Migori is more pressing. Hopefully, it is finally sorted soon. Then the next thing to do is get the JORC report finished at Musonoi, progress the other licenses and look to get Musonoi into production next year.
DYOR
Orion: "As usual Bell always playing catch up -"
It's what comes of constantly trying to jump on the latest trendy bandwagon to generate
another carrot dangling prospect to get the mugpunters to take up the useless confetti.
Mugpunters have all fled now. Ramping squads have all fled too it seems. This one is a total
dead horse. Not worth a penny of a punt. Totally uninvestable imo.
DYOR
Not good timing lol ! Glencore closing down the largest cobalt mine in the world . As usual Bell always playing catch up -
The game is up. Andrew will F Off into the sunset wealthier than any of his investors. I sort of admire the way he has had it away. Clever man. Glad I never got sucked in. Kool-Aid anybody?
Ramper NOIRUA over on ADVFN states in his thread header:
"We all know cash is low or negative at Red Rock due to unfortunate decisions by RRR management"
http://uk.advfn.com/cmn/fbb/thread.php3?id=41561690
A couple of weeks ago he stated :
"Cash Raising a certainty in the very short term"
On 31st July he posted:
"However, what is ignored is the cash position and a need to fund raise, probably quite urgently. Red Rock appears to have broken their own bats on the financial front and the company is hog tied by its own facade. "
Pretty damning stuff TBH
Lack of any volume here suggests markets are in agreement imo.
DYOR
Desperate and empty ramp Helpful
Not a great time to be in DRC Cobalt !
GLENCORE PLAN TO CLOSE THE WORLD'S LARGEST COBALT MINE
Https://www.ft.com/content/8cd1fd7a-b86c-11e9-96bd-8e884d3ea203
Cobalt is massively oversupplied, a fact known for quite some time now. Cobalt prices have accordingly plummeted resulting now in Glencore deciding to mothball it's Mutanda mine at the end of 2019.
Glencore now deem their mine to be no longer economically viable in this market and so are closing the mine and putting it on care and maintenance at the end of 2019. You can read Glencore's own words in their Half Year Report on their website.
The various news articles out there suggest it will take 2 to 3 years for the oversupply to disappear and for demand to return from the battery world.
I personally believe more cobalt mines will also have to close. A large outfit like Glencore might be able to survive squeezed profits for a while but I doubt very much whether smaller outfits will be able to.
Not a good time to be mining cobalt it seems !
Http://www.morningstar.co.uk/uk/news/AN_1565114070045560700/press-glencore-to-halt-mutanda-mine-production-at-end-of-2019---ft.aspx
Ramp on old chum . . . .
DYOR
Interesting. JB via 1620 Capital owns a chunk of RRR and is a JV partner.
He reckons 20,000 tonnes of cobalt at Musonoi.
https://twitter.com/Boardo65/status/1159788742908841984?s=19
Confetti issued today at Bell's latest company POW, just to pay off fees !
https://www.lse.co.uk/rns/POW/power-metal-issue-of-equity--fgwjo8d8leygvvp.html
Couldn't agree more CGull. So obviously coming imo.
One look at the sudden desperate antics of rampers on the ADVFN boards tells you
what is coming down the line imo. Each to their own though.
With so little cash in the bank as at 31st Dec (just £27k)
and Current Liabilities at that time of £2.7m
and with the BOD spending approx £850,000 just on Admin Expenses a year
and with project costs and "other" project costs
Where is the cash going to come from to keep the lights on and pay Bell's
salary and expenses??
They raised £323k via a dilutive placing since Dec
They also received approx £250k from the Jupiter dividend.
Doesn't begin to scrtach the sides of those liabilities, admin expenses and all
the rest does it?!!
Where's the cash going to come from?
Well, the fact that the BOD requested and were granted authority to issue up to 400m more shares here this year must be a clue imo !!!
Eyes peeled for the (imo) inevitable RNS . . . .
Very glad I don't fall for the ramping nonsense posted here and on ADVFN
I wouldn't personally want to have punted this just to get diluted
DYOR
BLAM!
https://twitter.com/MitchSmithVanc/status/1159092047078285312?s=19
https://twitter.com/AmberMining/status/1159721089439809536?s=19
lol Zumore
Where will they drum $2.5m up from???
Cash in the bank was just £27k as at 31st Dec
Since then they've raised £323k from a dilutive placing at 0.51p
and received approx £250k from the Jupiter dividend.
But Admin Expenses here ran at approx £850,000 last year
plus "Other" project costs at £306k
Current Liabilities were a significant £2.7m at end Dec too !!!
Where's the cash going to come from?????
I think I can guess
Rhymes with spaghetti imo
DYOR